Key Takeaways
- • Strive, Inc. (ASST) held 43,000 BTC as of October 26, 2026, about 1,001 BTC short of Metaplanet's holdings and the gap needed to become the second-largest public corporate Bitcoin treasury behind Strategy.
- • Strive reached 43,000 BTC from roughly 7,500 BTC at the end of 2025, with a single purchase of 6,182 BTC for about $511 million in October 2026 doing most of the work.
- • Strive is technically fourth in the public treasury rankings, behind Strategy (about 848,000+ BTC) and Twenty One Capital (43,514 BTC), so it must pass two companies to reach second place.
- • Strive has funded its buying through perpetual preferred stock offerings (SATA and SATS) carrying a 15% dividend rate, plus warrant exercises, rather than traditional debt.
- • CEO Matt Cole has set a target of overtaking Metaplanet and becoming the second-largest public Bitcoin treasury by the end of 2026.
Summary
Strive, Inc. (ASST) held 43,000 BTC as of October 26, 2026, according to Crypto Briefing, leaving it 1,001 BTC short of Metaplanet (TYO:3350), which held 44,000 BTC as of early October. Overtaking Metaplanet would make Strive the second-largest public corporate Bitcoin treasury, behind Strategy (MSTR), which holds roughly 848,000 BTC or more. The article notes that Strive is currently fourth on the list, since Twenty One Capital (43,514 BTC) sits between Strive and Metaplanet. MARA Holdings, with about 35,577 BTC, ranks behind Strive.
Strive's growth has been rapid. It held approximately 7,500 BTC at the end of 2025, and its largest recent move was a purchase of 6,182 BTC for around $511 million in October 2026. Metaplanet has grown more slowly, posting a net increase of 1,000 BTC in Q3 2026, a figure the article attributes partly to liquidity-related transactions.
Strive has financed its purchases primarily through perpetual preferred stock offerings, known as SATA and SATS, and through warrant exercises, avoiding traditional debt. The perpetual preferred shares carry a 15% dividend rate, a significant recurring cost that the article characterizes as heavy for shareholders and preferred holders. CEO Matt Cole has said the company aims to overtake Metaplanet by the end of 2026 and has described the goal as challenging rather than assured.
For Bitcoin markets, the article frames competition among treasury firms as a meaningful source of corporate demand. Twenty One Capital, which sits closer to Metaplanet than Strive does, is also positioned as a contender, meaning the race for second place involves three serious firms.
Strive's growth has been rapid. It held approximately 7,500 BTC at the end of 2025, and its largest recent move was a purchase of 6,182 BTC for around $511 million in October 2026. Metaplanet has grown more slowly, posting a net increase of 1,000 BTC in Q3 2026, a figure the article attributes partly to liquidity-related transactions.
Strive has financed its purchases primarily through perpetual preferred stock offerings, known as SATA and SATS, and through warrant exercises, avoiding traditional debt. The perpetual preferred shares carry a 15% dividend rate, a significant recurring cost that the article characterizes as heavy for shareholders and preferred holders. CEO Matt Cole has said the company aims to overtake Metaplanet by the end of 2026 and has described the goal as challenging rather than assured.
For Bitcoin markets, the article frames competition among treasury firms as a meaningful source of corporate demand. Twenty One Capital, which sits closer to Metaplanet than Strive does, is also positioned as a contender, meaning the race for second place involves three serious firms.
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